Monday, September 26, 2022
HomeInsightFunding Alert Broker Network raises Rs 90 Cr from Info Edge

[Funding alert] Broker Network raises Rs 90 Cr from Info Edge

Rahul Yadav, the founder of Housing.com, secured an additional Rs 90 crore from Info Edge for his proptech startup Broker Network. The Mumbai-based company is now 59.8% owned by Info Edge's subsidiary Allcheckdeals India as a result of the recent investment.

Rahul Yadav, the founder of Housing.com, secured an additional Rs 90 crore from Info Edge for his proptech startup Broker Network. The Mumbai-based company is now 59.8% owned by Info Edge’s subsidiary Allcheckdeals India as a result of the recent investment.

The board of Broker Network’s parent company, 4B, reportedly passed a special resolution to issue 1,913 CCPS at an issue price of Rs 4,70,465.24 per share to raise Rs 90 crore by Info Edge’s subsidiary Allcheckdeals India Private Limited, according to regulatory filings with the Registrar of Companies (RoC).

Read also – [Funding alert] Tortoise raises funding from Swiggy and ZestMoney

The company stated in the filing that the additional funds will be used for expansion and growth. Info Edge has now invested a total of Rs 227 crore in Broker Network for the year 2022 with this injection. It’s important to note that Info Edge has operated the real estate listing website 99acres since 2005.

The goal of 4B Networks is to make it possible for brokers and developers of real estate to interact and transact business utilising the Broker Network Platform. The business asserts that it has over 50,000 brokers in its network and has approved more than Rs 1,000 crore in mortgage loans. Through third-party lenders like banks and non-banking financial companies, 4B Networks makes loans available (NBFCs).

About Broker Network

Broker Network is one of India’s fastest growing Prop-Tech companies with a revolutionary tech platform that facilitates, enables and empowers brokers and developers. We are a perfect Hybrid of new-age technology and human ingenuity, creating opportunities and efficiencies.

Broker Network app is a suite of services specifically designed for Indian real estate brokers and developers. At its core, it’s a highly efficient matchmaking platform that connects brokers with properties and brokers with buyers. The match engine works behind the scenes, figures out the perfect match with your post and sends prominent notifications to both parties to connect and make deals. Apart from being automatically connected to the brokers matching your posts in your locality, you will also be able to directly call and chat with thousands of brokers across the network!

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